Concert Wealth Management Lifted Adobe Sys (ADBE) Holding By $2.42 Million; Fort Point Capital Partners Cut Verizon Communications (VZ) Stake

June 19, 2017 - By Vivian Currie

Fort Point Capital Partners Llc decreased Verizon Communications Inc (VZ) stake by 62.64% reported in 2016Q4 SEC filing. Fort Point Capital Partners Llc sold 8,748 shares as Verizon Communications Inc (VZ)’s stock declined 7.66%. The Fort Point Capital Partners Llc holds 5,218 shares with $273,000 value, down from 13,966 last quarter. Verizon Communications Inc now has $189.61B valuation. The stock declined 0.30% or $0.14 reaching $46.49 per share. About 4.68 million shares traded. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since June 19, 2016 and is downtrending. It has underperformed by 25.18% the S&P500.

Concert Wealth Management Inc increased Adobe Sys Inc (ADBE) stake by 1393.53% reported in 2016Q4 SEC filing. Concert Wealth Management Inc acquired 23,690 shares as Adobe Sys Inc (ADBE)’s stock rose 14.01%. The Concert Wealth Management Inc holds 25,390 shares with $2.62M value, up from 1,700 last quarter. Adobe Sys Inc now has $69.16 billion valuation. The stock rose 1.19% or $1.64 reaching $139.48 per share. About 2.12M shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since June 19, 2016 and is uptrending. It has outperformed by 25.59% the S&P500.

Concert Wealth Management Inc decreased Ishares Tr (EFAV) stake by 19,837 shares to 21,261 valued at $1.30 million in 2016Q4. It also reduced Proshares Tr (NOBL) stake by 62,109 shares and now owns 4,810 shares. Frontier Communications Corp (NASDAQ:FTR) was reduced too.

Among 36 analysts covering Adobe Systems (NASDAQ:ADBE), 29 have Buy rating, 1 Sell and 6 Hold. Therefore 81% are positive. Adobe Systems had 72 analyst reports since August 11, 2015 according to SRatingsIntel. The rating was initiated by Cowen & Co with “Outperform” on Friday, June 24. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Equal-Weight” rating by Morgan Stanley on Wednesday, September 21. Pivotal Research maintained it with “Buy” rating and $104 target in Friday, December 11 report. The firm has “Sell” rating given on Monday, June 12 by Pivotal Research. The firm has “Overweight” rating by Pacific Crest given on Wednesday, September 21. The firm earned “Perform” rating on Wednesday, September 2 by Oppenheimer. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Overweight” rating given on Wednesday, October 14 by Atlantic Securities. RBC Capital Markets maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, December 11. RBC Capital Markets has “Outperform” rating and $112 target. As per Friday, December 11, the company rating was maintained by KeyBanc Capital Markets. Goldman Sachs maintained Adobe Systems Incorporated (NASDAQ:ADBE) on Friday, March 18 with “Neutral” rating.

Investors sentiment decreased to 1.02 in 2016 Q4. Its down 0.13, from 1.15 in 2016Q3. It dived, as 57 investors sold ADBE shares while 287 reduced holdings. 85 funds opened positions while 267 raised stakes. 417.05 million shares or 0.67% less from 419.85 million shares in 2016Q3 were reported. Prudential Public Ltd reported 6,513 shares. City reported 200 shares stake. Adage Capital Prtn Gru Ltd Limited Liability Company invested in 0.2% or 714,628 shares. Utd Services Automobile Association has invested 0.16% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Principal Fincl Grp Inc reported 711,894 shares. Dsc Lp reported 3,936 shares stake. Tarbox Grp Inc Incorporated invested in 223 shares. 43,773 are held by Dowling Yahnke Ltd Liability Com. Umb Bancshares N A Mo holds 0.07% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 18,203 shares. 35,766 are held by Nicholas Inv Prtnrs L P. Weiss Multi holds 20,092 shares. Country Trust National Bank & Trust reported 400 shares or 0% of all its holdings. 478,084 are held by Hsbc Public Limited. Ao Asset Mgmt Limited Liability Company has 186,100 shares. First Quadrant Limited Partnership Ca holds 0.02% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 10,400 shares.

Since January 4, 2017, it had 0 buys, and 16 selling transactions for $60.06 million activity. Rencher Bradley also sold $4.56 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Tuesday, January 24. Shares for $19.79M were sold by NARAYEN SHANTANU. GESCHKE CHARLES M sold $7.50M worth of stock or 59,550 shares. $2.83M worth of stock was sold by BURGESS ROBERT K on Thursday, February 2. The insider DALEY JAMES E sold $1.10M. 2,233 shares valued at $279,125 were sold by Lewnes Ann on Wednesday, March 22. GARRETT MARK sold $5.16 million worth of stock or 45,199 shares.

Fort Point Capital Partners Llc increased Vanguard Index Fds (VB) stake by 2,546 shares to 5,810 valued at $754,000 in 2016Q4. It also upped Amazon Com Inc (NASDAQ:AMZN) stake by 2,384 shares and now owns 3,673 shares. Ishares Tr (SHY) was raised too.

Among 22 analysts covering Verizon Communications Inc. (NYSE:VZ), 5 have Buy rating, 0 Sell and 17 Hold. Therefore 23% are positive. Verizon Communications Inc. had 38 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was upgraded by Moffett Nathanson to “Buy” on Tuesday, February 21. FBR Capital downgraded it to “Mkt Perform” rating and $52 target in Wednesday, January 25 report. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Wednesday, January 25. The firm has “Buy” rating given on Monday, October 24 by Drexel Hamilton. The firm earned “Buy” rating on Tuesday, August 11 by Vetr. The firm has “Buy” rating given on Tuesday, January 3 by Citigroup. The firm has “Market Perform” rating by Wells Fargo given on Monday, January 23. Moffet Nathanson downgraded it to “Neutral” rating and $55 target in Friday, April 1 report. Bernstein downgraded the shares of VZ in report on Thursday, April 7 to “Market Perform” rating. The firm has “Outperform” rating by FBR Capital given on Wednesday, October 21.

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on July, 25. They expect $0.98 earnings per share, up 4.26% or $0.04 from last year’s $0.94 per share. VZ’s profit will be $4.00 billion for 11.86 P/E if the $0.98 EPS becomes a reality. After $0.95 actual earnings per share reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts 3.16% EPS growth.

Investors sentiment increased to 1.11 in 2016 Q4. Its up 0.01, from 1.1 in 2016Q3. It is positive, as 60 investors sold VZ shares while 658 reduced holdings. 115 funds opened positions while 683 raised stakes. 2.53 billion shares or 1.29% more from 2.50 billion shares in 2016Q3 were reported. Rdl owns 56,108 shares for 2.01% of their portfolio. Massachusetts-based Eastern Bancorp has invested 1.53% in Verizon Communications Inc. (NYSE:VZ). Moreover, Grisanti Cap Management Limited Liability Company has 0.88% invested in Verizon Communications Inc. (NYSE:VZ). Wasatch Advsr owns 222,077 shares for 0.18% of their portfolio. Selway Asset Mgmt holds 46,321 shares. Haverford Fincl Services Incorporated reported 8,490 shares. First National Bank & Trust Of Omaha reported 387,260 shares. Carroll Financial Associates Inc has 33,059 shares for 0.25% of their portfolio. Sva Plumb Wealth Mgmt Ltd Liability has 78,260 shares for 0.62% of their portfolio. Pekin Singer Strauss Asset Mgmt Il holds 1.62% or 341,337 shares. Waverton Invest owns 243,138 shares for 0.85% of their portfolio. 42,549 were accumulated by Newman Dignan Sheerar. Agf Invs has invested 0.28% in Verizon Communications Inc. (NYSE:VZ). Tiemann Inv Advisors Limited Liability Corp invested 0.77% in Verizon Communications Inc. (NYSE:VZ). Ridgeworth Mgmt Ltd Liability Corp has 2.23 million shares for 1.01% of their portfolio.

Since February 14, 2017, it had 0 insider buys, and 7 insider sales for $3.60 million activity. SILLIMAN CRAIG L. also sold $30,293 worth of Verizon Communications Inc. (NYSE:VZ) on Monday, March 27. The insider Gurnani Roger sold $543,385. The insider WALDEN MARNI M sold $753,961. $603,134 worth of Verizon Communications Inc. (NYSE:VZ) shares were sold by Skiadas Anthony T.

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